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Highlights
Mirae Asset Global Investments Co. Ltd. increased its stake in Devon Energy (NYSE:DVN) by 21.8% in the fourth quarter.
EnCap Energy Capital Fund XI L.P. and EnCap Partners GP LLC acquired significant positions in the company.
Institutional ownership in Devon Energy continues to rise, with multiple hedge funds adjusting their holdings.
Institutional Holdings in Devon Energy Expand
Devon Energy operates within the energy sector, focusing on oil and gas exploration and production. Institutional investors have continued to increase their stakes in the company, with Mirae Asset Global Investments Co. Ltd. recently raising its position. According to its latest regulatory filing, the firm added 13,522 shares, bringing its total holdings to 75,492 shares. At the close of the quarter, these holdings were valued at $2,366,000.
Major Investments from Hedge Funds
Several hedge funds have adjusted their positions in Devon Energy. EnCap Energy Capital Fund XI L.P. acquired a significant stake during the third quarter. Similarly, EnCap Partners GP LLC initiated a new position in the same period. Another key player, EnCap Energy Capital Fund X L.P., also secured a new stake.
International Assets Investment Management LLC made substantial changes, expanding its holdings by over 4,100% in the third quarter. Following this adjustment, the firm now owns 2,280,961 shares of Devon Energy. Additionally, Pacer Advisors Inc. increased its holdings by 16.9% in the same timeframe, adding 1,677,652 shares.
Institutional Ownership Trends
Institutional ownership in Devon Energy continues to climb, with multiple funds actively managing their stakes. Hedge funds and other institutional investors now own nearly 70% of the company’s stock. This sustained activity suggests that large-scale investors are maintaining strong positions in Devon Energy.
Recent Market Activity and Strategic Moves
Devon Energy has remained a focal point for institutional investments, with firms adjusting their portfolios to reflect their confidence in the company. The energy sector’s ongoing developments and Devon Energy’s operational strategies have contributed to heightened interest from investment groups.
As institutional activity continues, Devon Energy (NYSE:DVN) remains a closely watched entity in the energy space, attracting attention from large-scale investors and asset management firms.
